MULTINATIONAL COMPANIES' POLICIES ON GENETICALLY MODIFIED CROPS

Author

Tatjana Papic and Koviljko Lovre

Economics of Agriculture, 2008, vol. 55, issue 4

Abstract: The Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) obligated all onWorld Trade Organization (WTO) members to protect patents of biotech discoveries (products and processes) and plant varieties and for the first time assumes legal measures in protection of intellectual property giving strong stimulus to private sector investments into the biotechnology. The result: five TNCs are in possession of 71% agricultural biotechnological patents worldwide and determinates direction of biotechnology research. Monsanto, the most important agro-biotech company, gained in the ten years period 48.7 bilions $. It is decided that economic motives and intention for monopoly position present basic difussion generators of genetically modified (GM) food.

Keywords: TRIPs; patents; Monsanto; GM food; total income; Agricultural Finance; Crop Production/Industries; Research and Development/Tech Change/Emerging Technologies (search for similar items in EconPapers)
Date: 2008
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